[SMM Flash News] Repsol Low Carbon Unit Faces Q1 Loss Amid Plunging Spanish Power Prices

Published: Apr 30, 2026 23:45

Save

Spanish energy major Repsol reported an adjusted net loss of €4 million for its low carbon generation unit in Q1 2026, a sharp reversal from the €2 million profit recorded a year earlier. While total electricity generation surged 57.4% to 3.35 TWh—supported by new wind and solar assets and increased gas-fired output—operating income for the division fell 50% year-on-year to €12 million. This decline was primarily driven by a 49.7% drop in Spanish wholesale electricity prices, which averaged €43.3/MWh during the quarter due to exceptional rainfall. Despite the Renewables segment’s operating income falling by €18 million, the group's overall adjusted EBITDA for the unit managed a slight 1.9% increase to €53 million.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

7 hours ago

[SMM Flash News] Indonesia Proposes Increase in Subsidized Diesel and Kerosene Volumes to for 2027

Indonesian Minister of Energy and Mineral Resources Bahlil Lahadalia has proposed increasing the subsidized diesel (solar) allocation from 18.64 million kiloliters (KL) in 2026 to between 18.80 million and 19 million KL for the 2027 draft state budget. Subsidized kerosene allocations are also proposed to rise from 0.53 million KL to 0.543–0.561 million KL, bringing the total proposed subsidized fuel volume up to 19.561 million KL. Meanwhile, the subsidized 3-kg LPG quota will remain unchanged at 8 million metric tons, and the fixed diesel subsidy rate will stay at IDR 1,000 per liter.

7 hours ago

13 hours ago

Spot aluminum suddenly plummeted, while transactions were overall satisfactory [SMM South China Aluminum Spot Daily Review]

13 hours ago

14 hours ago

Baotou Zhenxiong Copper Co., Ltd. invites you to attend the 2026 SMM (2nd) Northern Cable Industry Conference

14 hours ago